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20121226
20130103
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. >> under this law, more than 98% of americans and 97% of small businesses will not see their income taxes go up. >> reporter: lawmakers completely blew their deadline. they didn't get the grand bargain both parties claimed was their ultimate goal. both democrats and republicans gave themselves credit for getting something done. >> this is a very, very strong first step. >> this is an important one. this is a critical one for the future of the country. >> reporter: there was considerable hand ringing among republicans about a lack of spending cuts. some wanted to add them in, but ultimately there weren't enough votes to get it passed. this fiscal cliff deal, which passed the senate with overwhelming bipartisan support would extend tax cuts for all workers earning less than $400,000 a year, prevent a tax hike on estates valued at less than $5 million and extend unemployment benefits that were set to expire yesterday for some 2 million people. since congress missed the january 1st midnight deadline, technically the country did go over that fiscal cliff. but by passing the compromise deal in
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